By narrowing sellers down the to the 3 most motivated sellers, you’ll be able to target your marketing and focus your energy on sellers who need to make a deal.
Chris Bruce elaborates on what types of properties and property owners will be willing and needing to sell their home quickly.
Mike: Welcome back to the FlipNerd.com REI Classroom, where experts from across the real estate investing industry teach you quick lessons to take your business to the next level. And now, let’s meet today’s expert host.
Chris: How are you doing everybody? Chris Bruce, Internet Landlord LLC and I’m going to be the host of this show, the REI show today. And today’s topic, what I’m going to be talking about, is the three best motivated sellers to target.
Mike: This REI Classroom real estate lesson is sponsored by AceBusinessFunding.com.
Chris: Now, what we’re going to be talking about again is the three best motivated sellers. Number one, the top motivated seller to target, guys, is going to be vacant properties. That’s right. A lot of times these vacant properties are people that might have recently went through a foreclosure, they might have recently just evicted a tenant and now it’s vacant, or for whatever reason maybe they were starting another rehab and they ran out of money and they’re no longer going to be able to fix it up.
For whatever reason, there’s just all types of different reasons why the property is vacant, and these people are generally will have some type of motivation to sell. If you can get your marketing or if you can get on the phone with these sellers you can find out what type of problems they’re having and basically become a problem solver. It’s vacant, they’re not making any money, it’s no longer an asset anymore. It’s become more of a liability if they’re not making any money or having anyone in the house, and you can turn that into some cash for you.
Number two. Another good seller to target is probates. Probates is great and if you don’t know what probate is it’s basically someone that inherits a property. Basically everything goes through the judicial system and maybe the will wasn’t filled out correctly from the deceased and so they have to go through the whole court system to find out who’s going to actually get ownership of this property. Well nine times out of ten a lot of these people that are going to inherit the property, they’re in no situation or no need to really want to become a landlord or even want to deal with the property.
So if you can get your marketing to these people before they actually go out and go out to list with a realtor, they’re going to be very open and very motivated to sell their property because they don’t have a big attachment to that property.
Number three, last but not least, is evictions. Targeting landlords that have recently evicted tenants. This becomes a real big hassle for the landlord. They got into this business to produce cash flow and unfortunately they’re in and out of court dealing with the eviction process and these people can be really motivated from saying they don’t want to even deal with the property anymore and deal with the tenants and finding tenants and stuff like that, that they’ll be open to sell their property and get rid of it and move on with their life.
So these are the three best sellers that you should be targeting to find good wholesale deals and guys we’ll see you on the next episode.
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